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Assume Sarah is a cash-method, calendar-year taxpayer, and she is considering making the following cash payments related to her business.

find out the after-tax cost of each payment assuming she has a 25 percent marginal tax rate.

$800 to reimburse the cost of meals incurred by employees while traveling for the business.

$1,200 for football tickets to entertain out-of-town clients during contract negotiations.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947604

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